An Individual Must Complete Schedule B (Forms 1040A or 1040)if

question 25

Multiple Choice

An individual must complete Schedule B (Forms 1040A or 1040) if the following situation occurs:

• A)Received interest income of $1,500.
• B)Received dividend income of $1,000.
• C)Received interest income of $100.
• D)Received tax-exempt interest of $700.

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Definitions:

Budget Line

A graphical representation showing all possible combinations of two goods that can be purchased given a consumer's income and the prices of the goods.

Price

The sum of money anticipated, needed, or provided as payment for an item.

Shift Outward

An economic term referring to the expansion of a production possibility frontier, indicating an increase in an economy's capacity to produce.

Budget Lines

Graphical representations of all possible combinations of two goods that a consumer can afford given their income and the prices of the goods.